Analyst John Daniel commented, "TTI dropped by ~2% on Monday after reporting earnings that were relatively in line with our expectations. Revenues, however, were ~$10M short of our model and missed Street expectations by a wider margin, likely helping to facilitate yesterday's under-performance. As a result of the revenue miss, we have adjusted our numbers slightly lower for 2H'16 and 2017/8. We continue to model TTI's consolidated revenues growing at a slower pace than NAM completion-oriented peers, given the diverse array of business lines the company operates. Despite the tweak lower, the stock only trades at 4.7x our updated 2018 EBITDA estimate versus 6.4X for SMID peers. Consequently, we continue to believe that TTI is undervalued and we reiterate our Overweight rating."

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